Biggest Binance Update. What you need to know?
Literally today, the largest update of one of the leading cryptocurrency exchanges took place. Binance platform is widely known to millions of users, its functionality is to the liking of a huge number of traders and miners, which is why the company is actively developing its own platform. For example, today the project has completed the introduction of the largest innovation in the basic foundation of the platform. According to the assurances of the developers, now the site can process transactions tens of times faster, and overall productivity has grown to a historic maximum. But let’s discuss the update in more detail.
What is the importance of innovation
In fact, Binance is constantly being updated. Such a large and complex ecosystem simply cannot exist without stable support. High online provokes huge loads, and attention from hackers and crackers forces the company to constantly look for ways to further protect its users and financial savings. So small updates are made almost every month. But they, of course, are not advertised; information can be obtained only from special technical documents.
Today, on the contrary, the company completed the launch of the update, which was under development for 2 years. The innovation affects both the small subtleties of design, and the fundamental principles of the project. This is the biggest update that is needed. Developers believe that the industry will soon move into the next, larger phase. That is why the algorithms and principles laid down in 2017 cease to be relevant. So do not be surprised to make updates, this is a natural, important and interesting process.
Binance specific innovations
Let’s delve into the update. First of all, the improved potential for processing a large number of transactions should be mentioned. Now the platform can handle the trading volume, 100 times higher than the current figures. Note that before this Binance was a fairly large platform. But now the potential is laid, which will last for many years to come. However, specific performance indicators can only be learned in practice. This was stated by the head of the company, who stressed that he was looking forward to the growth of the industry in order to test the real possibilities of his own project.
In addition, the project is actively adding new currencies to provide the opportunity to buy and sell cryptocurrency to citizens of all countries, from all parts of the world. For example, more recently, Binance has activated support for the Ukrainian hryvnia. Next in line are other, popular, but local currencies. At the moment, the platform supports 35 fiat currencies and a huge number of digital assets, starting with large coins and ending with the smallest currencies. Thus, Binance deservedly occupies a leading position among the entire industry.
How did the update affect the performance of Binance?
Quite a logical question. The introduction of such serious innovations requires a temporary shutdown of the system, a reboot of the servers and, in principle, a responsible approach. That is why Binance did not work for 3 hours. However, pauses in the work of the exchange did not affect long-term positions, futures and options remained relevant. At the moment, the site is stable, there are no problems with translations. Online stably high, connecting and logging into your account without problems. So hurry up to join those users who already try updating.
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